My Community Program 

My Community Program 

Do you want to know if you qualify for the My Community Program?

Can I purchase a home using the a conventional loan.

Fannie Mae offers the My Community Mortgage® and is designed for low to moderate income home buyers. This program provides significant flexibility in credit guidelines for borrowers with limited cash resources. The borrower’s income cannot exceed 100% of the annual HUD Area Median Income.

Minimum Credit Score and Maximum Loan-To-Value

Fannie Mae requires a minimum credit score of 620.

  • 3% down payment minimum credit score 620
  • Loans below 80% loan-to-value do not require mortgage insurance minimum credit score 620
  • Maximum loan amount $417,000 single family residence
  • Owner-occupied primary residences only
  • First time home buyer program

Source of Down payment

Funds for the borrower’s down payment and/or funds for closing costs and/or prepaids may be obtained from the following:

  • Affordable/Eligible Community Seconds
  • A gift or unsecured loan from a relative, domestic partner, fiancé or fiancée
  • A gift, grant or unsecured loan from a church, a public agency, municipality or a non-profit organization (other than a credit union)
  • Contributions by interested parties, subject to standard interested parties contributions guidelines for conventional mortgages. Seller can contribute.
  • Employer assistance in the form of a grant, a direct fully repayable second mortgage or unsecured loan or a deferred payment second mortgage or unsecured loan
  • Cash on hand

Home Buyer Education

Prior to closing a minimum of one borrower must complete an approved home buyer education program if all borrowers are first time home buyers.

Seller Contributions

Interested party contributions, as a percentage of the sales price or appraised value, whichever is less, are limited to the following values

Maximum seller contributions:

  • 90% and higher loan-to-value maximum 3% contributions
  • 75% up to 90% loan-to-value maximum 6% contributions 
  • 74.9% and below loan-to-value maximum 9% contributions

What documentation will I need?

• Personal tax returns for the past 2 years with W2's
• Current pay stubs for the past month
• Bank statements for last 2 months (all pages)
• Latest retirement statement for each active account (all pages)
• Sales contract (purchase)
• Clear copy of Driver’s License (front and back)
• Clear copy of SS card (front and back)

Apply Now!

Call us 888.958.4228

We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.

We look forward to working with you. LLC is an online mortgage company specializing in FHA loans for first time home buyers.

Apply Now

Call us 888-958-5382 LLC is an online mortgage company specializing in FHA loans for first time home buyers.

We look forward to working with you.

Image 12

Apply Now!

Call 800.516.9166

Email Us!

Recent Articles

  1. Low Credit Score Mortgage Florida

    Apr 04, 24 09:41 AM

    Low Credit Score Mortgage Florida Down to 500. Purchase or Refinance.

    Read More

  2. Credit Score Requirements for FHA 2024

    Mar 18, 24 09:08 AM

    Credit Score Requirements for FHA 2024. For individuals applying for an FHA loan, it's important to note that there is a minimum FICO score requirement of 500.

    Read More

  3. FHA Loan Requirements 2024 - FHA Loan Programs 2024

    Mar 15, 24 01:12 PM

    FHA loan requirements 2024. FHA loan guidelines for minimum credit score, minimum down payment and closing costs.

    Read More


New Jersey Location

Call Now, Our Staff is Available!



My Community Program


Apply Now!

Call 888.958.4228

E-mail Us!

Are you a

first time home buyer?

  • Borrowers may not have any ownership in any other residential property
  • Borrower must complete home buyer counseling
  • Maximum Debt-to-Income Ratio 50%
  • Purchase primary residence owner-occupied only
  • No reserves required

Fannie Mae

Requires a minimum credit score of 620 to buy a home

Fannie Mae minimum

credit score 620

Call Now, Our Staff is Available


Apply Now!